Why Financial Advisors Should Not Be Afraid To Contact “Out Of Reach Prospects”

The 5 Best Ways to Generate Revenue as a Junior Advisor: Keeping It Simple and Effective

Prospecting for clients is hard enough, but you want to get your junior advisors up to speed as soon as you can.

Here are 5 ways you can generate revenue as a Junior Advisor in 1-3 months.

1. Clear and Simple Processes

If you don’t have prospecting processes specifically for your Junior Wealth Advisors, create some WITH them.

If you have some in place, work WITH them to ensure it fits their style of marketing.

Allow them to create prospecting processes, scripts and marketing packages that will give them complete autonomy and freedom to exercise discretion.

2. Make Hurdles Realistically Obtainable

The turnover for Wealth Advisors starting the industry has an above average turnover rate meaning younger individuals leave the industry within 3 years.

The last thing you want to do is cause your team massive panic attacks and sleepless nights.

A trustworthy junior wealth advisor is an investment in your team and growth.

Aim for that advisor to generate enough revenue and income to counter the salary they are being paid to start.


3. Have Them Focus On Your Market or Theirs

If you do not have a particular market you tend to go after, let them choose by addressing the following

  1. Is there a large enough market size and assets to be won?
  2. Do they have enough complex problems you can advise?
  3. Are you able to find and contact them?
  4. Do you have some connected interest in that market?
Knowing your market, persona and common issues faced by these individuals will propel you and the team to being the “go-to” .

4. Do Preparation and Meetings Together

This should go without saying, but let the junior associate listen, interact and experience meetings first hand.

Your clients will most likely be happy to help your newer associates learn.

Preparing together will help train new advisors into knowing what goes into a successful meeting and gives them a chance to tweak things in their own way.

5. Let Them "Own" Their Success and Failures

When we come up with a game-plan, strategy, etc., we expect it to succeed.

There will be times where we mess up, fail and lose business. The most important item is to make sure you learn from the wins as well as the losses.

Let the junior advisor open up and discuss what they think they did right and did wrong.

Share some of your experiences with them.

Managing the emotional roller coaster of this position is THE most important piece you can teach as your team grows.


Give Them The Tools To Succeed

Failure should never occur because of the lack of tools or information provided to your junior advisors. You can invest in their success, but you don’t have to go in it alone. Try out the Affluensee Prospect Platform and watch them start earning revenue within 3 months.

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